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Index of
Rockwell News - 2000
Click on underlined dates to view complete story
Dec 20, 2000 - Rockwell Signs
Agreement for Dri-Sate System Distribution in Peru
Dec 18, 2000 - Rockwell Medical
Announces Management Additions
Nov 30, 2000 - Rockwell
Clarifies Warrant Expiration Date of January 26, 2002
Nov. 8, 2000 - 3rd Qtr Sales
Revenue Up 24%, Dri-Sate Unit Sales Up 100%
Sep. 7, 2000 - Rockwell's
CEO Talks to The Wall Street Transcript
Aug 10, 2000 - Rockwell
Increases Sales 10% for Second Quarter of 2000
May 9, 2000 - RMTI
Reports Increased Gross Profit for First Quarter 2000
May 4, 2000 - Rockwell
Enters Supply Agreement with Total Renal Care, Inc.
Apr 18, 2000 - Rockwell Signs
Agreement with National Nephrology Associates
Mar 28, 2000 - Rockwell
Announces Expansion in Texas
Mar 15, 2000 - Rockwell Medical
Technologies Changes Board of Directors
Mar. 9, 2000 - Rockwell Elects
Not to Renew Wall Street Partners Agreement
Feb 15, 2000 - RMTI Sales and
Earnings Up for Fourth Quarter 1999
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Monday December 20, 2000
Rockwell Signs Agreement with Company in Peru for Sale and Distribution
of Dri-Sate Dry Acid Concentrate Mixing System
WIXOM, Mich. -- Rockwell Medical Technologies, Inc., a
leading, innovative hemodialysis concentrate manufacturer in the healthcare
industry, announced today that it has entered into an exclusive distributorship
agreement with Ninelj Saez, a company located in Lima, Peru, for the sale and
distribution of its Dri-Sate Dry Acid Concentrate Mixing System and its
bicarbonate powder products.
The agreement specifies Ninelj Saez to be the exclusive sales agent and
distributor for Rockwell Medical Technologies, Inc. in Peru. According to the
agreement, Ninelj Saez will purchase a minimum of twelve ocean-freight
containers of the Company's Dri-Sate Dry Acid Concentrate and bicarbonate
powder products during the next twelve months.
Robert L. Chioini, Chairman, CEO and President of Rockwell Medical
Technologies, Inc., stated, "We are pleased to have Ninelj Saez represent
us in Peru. Our penetration into the foreign markets with our Dri-Sate Dry Acid
continues to grow and we will continue to evaluate distributor relationships
which will allow us to increase our international market share."
Rockwell Medical Technologies, Inc., is an innovative leader in manufacturing,
marketing and delivering high-quality dialysis solutions, powders and ancillary
products to hemodialysis providers. Hemodialysis is a process which duplicates
kidney function for patients whose kidneys have failed to function properly and
suffer from end-stage renal disease (ESRD). There are an estimated 350,000
dialysis patients in the United States and the incidence of ESRD has increased
6-8% on average each year over the last decade. Rockwell offers Dri-Sate Dry
Acid, Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a
wide range of ancillary dialysis items. Rockwell's products are used to cleanse
the ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
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Monday December 18, 2000
Rockwell Medical Technologies Announces
Management Additions
WIXOM, Mich. -- Rockwell Medical Technologies, Inc., a
leading, innovative hemodialysis concentrate manufacturer in the healthcare
industry, announced today that it has recently added two key managers to its
management team.
Mr. Rudy Merriweather, Vice President of Manufacturing, and Mr. Evan Moilan,
Plant and Operations Manager, Southwest Division, will facilitate the Company's
manufacturing and plant expansion.
Rockwell recently announced $2 million in equity capital financing to fund its
expansion and development efforts. The Company expects to close on its equity
financing on or around the 22nd of December. The Company's strategy is to
expand and strengthen its market presence utilizing regional manufacturing
sites throughout the United States. The Company operates one plant in the
Midwest in Wixom, Michigan and has added a second manufacturing facility in the
Southwest in Grapevine, Texas, near Dallas.
Mr. Robert L. Chioini, Chairman, CEO and President stated, We are pleased
to add these two very experienced manufacturing managers to our team. Their
in-depth experience in coordinating plant start-up and manufacturing expansion
will be extremely beneficial in facilitating Rockwell's growth strategy.
Mr. Rudy Merriweather has more than 25 years of extensive chemical
manufacturing experience including plant start-up and production expansion. He
previously served for eight years as Director of Manufacturing for ITW Foamseal
where its production volume tripled during his tenure. In addition, Mr.
Merriweather's background includes over 16 years with BASF where he held
several key manufacturing plant management positions in its Polymer division.
Mr. Merriweather holds a Bachelors of Science Degree in Chemical Engineering
from Wayne State University.
Mr. Evan Moilan has more than 25 years of nutritional packaging and
manufacturing experience including plant start-up and production expansion. Mr.
Moilan was employed with the Wyeth Nutritional division of American Home
Products for 13 years where he last served as Technical Director in charge of
manufacturing. He also spent ten years with Mead Johnson, a subsidiary of
Bristol-Myers Squibb, in a variety of manufacturing management roles. Mr.
Moilan holds a Bachelor of Science Degree in Food Technology from Texas Tech
University.
Rockwell Medical Technologies, Inc., is an innovative leader in manufacturing,
marketing and delivering high-quality dialysis solutions, powders and ancillary
products to hemodialysis providers. Hemodialysis is a process which duplicates
kidney function for patients whose kidneys have failed to function properly and
suffer from end-stage renal disease (ESRD). There are an estimated 350,000
dialysis patients in the United States and the incidence of ESRD has increased
6-8% on average each year over the last decade. Rockwell offers Dri-Sate Dry
Acid, Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a
wide range of ancillary dialysis items. Rockwell's products are used to cleanse
the ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
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Thursday November 30, 2000
Rockwell Clarifies Warrant Expiration Date of Jan. 26, 2002
WIXOM, Mich. -- Rockwell Medical Technologies, Inc.
(Nasdaq: RMTI), a leading, innovative hemodialysis concentrate manufacturer in
the healthcare industry, made a statement today clarifying that the expiration
date of its warrants is January 26, 2002. The Company's publicly traded
warrants have a trading term of three years from January 26, 1999 and expire on
January 26, 2002.
The Company has received reports from several investors and brokers that
erroneous information regarding the expiration date of the warrants may have
inadvertently been provided to investors through certain investor information
services. The Company's audited financial statements for 1999 and its 1999
10-KSB filing dated March 30, 2000 with the Securities and Exchange Commission
accurately describes the warrant terms, including their expiration date of
January 26, 2002. In addition, the Company has contacted certain reporting
services to clarify the warrant terms and those reporting services indicated
that the information has been corrected.
Rockwell Medical Technologies, Inc., is an innovative leader in manufacturing,
marketing and delivering high-quality dialysis solutions, powders and ancillary
products to hemodialysis providers.
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Wednesday November 8, 2000
Rockwell Reports 24% Increase in Sales Revenue for 3rd Quarter
Dri-Sate Dry Acid Unit Sales Volume Up 100%
WIXOM, Mich. -- Rockwell Medical Technologies, Inc., a
leading, innovative hemodialysis concentrate manufacturer in the healthcare
industry, reported today that its sales revenue in the third quarter 2000
increased 24% over its third quarter sales in 1999. Sales increased by $
380,000 to $ 1,984,000 compared to the third quarter of 1999. The Company's
Dri-Sate Dry Acid Concentrate unit sales volume increased by 100% in the third
quarter compared to the third quarter of 1999. Loss per share was ($.06) for
the third quarter versus ($.05) in the third quarter of 1999.
For the nine months ending September 30, 2000, the Company's revenues increased
12.3% over the first nine months of 2000. Sales increased $ 583,000 to $ 5.3
million over the first nine months of 2000. The Company realized a gross profit
dollar increase of 21% or $ 104,000 compared to the same nine month period last
year. Operating margins improved by 4.5 points to sales in comparison to 1999's
first nine months. Year to date the net loss per share of $ (.18) improved by $
.02 per share.
Mr. Robert L. Chioini, Chairman, CEO, and President of Rockwell Medical
Technologies, Inc. said, We are pleased not only by the increase in sales
revenue but by the favorable market acceptance of our Dri-Sate product line. We
continue to see strong interest for Dri-Sate both in the U.S. and international
markets and we are in the process of automating our Dri-Sate production and
packaging process which we anticipate will contribute to improved operating
margins in the future. New customer orders remain strong and as we continue to
aggressively penetrate the market we expect to see an increase in sales revenue
and overall market share.
Thomas E. Klema, Vice President and Chief Financial Officer stated, We
have added new business in the South and Southwestern markets in advance of
opening our second manufacturing plant in Texas. In the short run, we are
incurring higher production and distribution costs to service this business,
however, we anticipate improved operating efficiencies and margins once our
facility comes on line in early 2001."
Rockwell Medical Technologies, Inc., is an innovative leader in manufacturing,
marketing and delivering high-quality dialysis solutions, powders and ancillary
products to hemodialysis providers. Hemodialysis is a process which duplicates
kidney function for patients whose kidneys have failed to function properly and
suffer from end-stage renal disease (ESRD). There are an estimated 350,000
dialysis patients in the United States and the incidence of ESRD has increased
6-8% on average each year over the last decade. Rockwell offers Dri-Sate Dry
Acid, Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a
wide range of ancillary dialysis items. Rockwell's products are used to cleanse
the ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statements
For the three months and nine months ended Sept. 30, 2000 and Sept. 30, 1999
(Whole dollars)
(Unaudited)
|
| |
Three months ended Sept 30, 2000 |
Three months ended Sept 30, 1999 |
Nine months ended Sept 30, 2000 |
Nine months ended Sept 30, 1999 |
| Sales |
$ 1,984,393 |
$ 1,604,453 |
$ 5,309,041 |
$ 4,725,709 |
| Cost of Sales |
1,774,785 |
1,404,003 |
4,706,905 |
4,228,044 |
| Gross Profit |
209,608 |
200,450 |
602,136 |
497,665 |
| Selling, General, Admin |
514,823 |
471,875 |
1,520,686 |
1,528,838 |
| Operating Loss |
(305,215) |
(271,425) |
(918,550) |
(1,031,173) |
| Interest Income (Expense) |
(1,871) |
13,359 |
21,749 |
48,729 |
| Net Loss |
$ (307,086) |
$ (258,066) |
$ (896,801) |
$ (982,444) |
| Avg shares outstanding |
4,855,105 |
4,853,637 |
4,854,810 |
4,840,733 |
| Basic and diluted loss per share |
$ (.06) |
$ (.05) |
$ (.18) |
$ (.20) |
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Friday September 7, 2000
Rockwell Medical's CEO, Robert L. Chioini, Talks to
The Wall Street Transcript
WIXOM, Mich. -- The Wall Street Transcript has published an
in-depth interview with Robert L. Chioini, CEO of Rockwell Medical
Technologies, Inc. a leading, innovative hemodialysis concentrate manufacturer
in the healthcare industry, in which he talks at length about the company's
future.
The entire 1,875 word interview is available online at Rockwell's web site
(interview text) Mr. Chioini gives an overview of the
company. "In short, Rockwell manufactures and distributes dialysis
concentrates in both liquid and powder form, carries an ancillary product line
which compliments its core offering and provides exceptional delivery service
by distributing product directly to the dialysis provider (the dialysis clinic)
using its own trucks."
Mr. Chioini explains, "Our measure of success will come from capturing the
national concentrate market by expanding with multiple manufacturing sites and
by continuing to penetrate that market with our innovative Dri-Sate Dry Acid
Concentrate."
Looking forward, Mr. Chioini states, "It's a recession-proof market and
estimates are that there will be more than 600,000 dialysis patients in the
U.S. over the next four years, and someone has to service that market."
The Wall Street Transcript is a premier weekly investment publication serving
serious long-term investors for over 37 years. The Wall Street Transcript does
not endorse the views of any interviewees nor does it make stock
recommendations. For subscription information call 800/246-7673.
Rockwell Medical Technologies, Inc., is an innovative leader in manufacturing,
marketing and delivering high-quality dialysis solutions, powders and ancillary
products to hemodialysis providers. Hemodialysis is a process which duplicates
kidney function for patients whose kidneys have failed to function properly and
suffer from end-stage renal disease (ESRD). There are an estimated 350,000
dialysis patients in the United States and the incidence of ESRD has increased
6-8% on average each year over the last decade. Rockwell offers Dri-Sate Dry
Acid, Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a
wide range of ancillary dialysis items. Rockwell's products are used to cleanse
the ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
(Return to Archive
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Thursday August 10, 2000
Rockwell Medical Technologies Increases Sales 10%
for the Second Quarter of 2000
WIXOM, Mich. -- Rockwell Medical Technologies Inc. (Nasdaq:
RMTI), a leading, innovative hemodialysis concentrate manufacturer in the
healthcare industry, announced today that its sales revenue in the second
quarter increased 10% over its second quarter sales in 1999.
Gross profit increased by 30% compared to the second quarter of 1999. Loss per
share decreased to ($.07) in the second quarter of 2000 from ($.08) in the
second quarter of 1999.
The Company's Dri-Sate Dry Acid Concentrate product line continued to increase
in sales. Unit sales volume of Dri-Sate Dry Acid increased by 74% in the second
quarter of 2000 compared to the second quarter of 1999. The Company's product
mix continues to shift towards its Dri-Sate Dry Acid Concentrate product line
and away from liquid acid concentrate packaged in 55 gallon drums. The majority
of the Company's new customers have selected Dri-Sate Dry Acid Concentrate.
Mr. Robert L. Chioini, Chairman, CEO, and President of Rockwell Medical
Technologies, Inc. said, "We are encouraged by the strong market
acceptance of our Dri-Sate product line. As we continue to add new customers
and we begin delivering products to additional clinics of our current
customers, we expect to see an increase in sales revenue and overall market
share." Mr. Chioini also stated, "During the second quarter we made
investments in marketing and advertising which we believe will contribute to
increased market share. We anticipate higher revenues for the future which will
also lead to improved operating margins."
Rockwell Medical Technologies, Inc., is an innovative leader in manufacturing,
marketing and delivering high-quality dialysis solutions, powders and ancillary
products to hemodialysis providers. Hemodialysis is a process which duplicates
kidney function for patients whose kidneys have failed to function properly and
suffer from end-stage renal disease (ESRD). There are an estimated 350,000
dialysis patients in the United States and the incidence of ESRD has increased
6-8% on average each year over the last decade. Rockwell offers Dri-Sate Dry
Acid, Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a
wide range of ancillary dialysis items. Rockwell's products are used to cleanse
the ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statements
For the three months and six months ended June 30, 2000 and June 30, 1999
(Whole dollars)
(Unaudited)
|
| |
Three months ended June 30, 2000 |
Three months ended June 30, 1999 |
Six months ended June 30, 2000 |
Six months ended June 30, 1999 |
| Sales |
$ 1,690,450 |
$ 1,537,046 |
$ 3,324,648 |
$ 3,121,256 |
| Cost of Sales |
1,495,329 |
1,387,837 |
2,932,120 |
2,824,041 |
| Gross Margin (Deficit) |
195,121 |
149,209 |
392,528 |
297,215 |
| Selling, General, Admin |
557,458 |
526,072 |
1,005,863 |
1,056,963 |
| Operating Loss |
(362,337) |
(376,863) |
(613,335) |
(759,748) |
| Interest Income, net |
10,672 |
10,622 |
23,620 |
35,369 |
| Net Loss |
$ (351,665) |
$ (366,241) |
$ (589,715) |
$ (724,379) |
| Avg shares outstanding |
4,854,928 |
4,838,111 |
4,854,663 |
4,834,281 |
| Basic and diluted loss per share |
$ (.07) |
$ (.08) |
$ (.12) |
$ (.15) |
(Return to Archive
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Tuesday May 9, 2000
RMTI Reports First Quarter Narrowing of Operating Loss, Increase in
Gross Profit
WIXOM, Mich. -- Rockwell Medical Technologies Inc. (Nasdaq:
RMTI), a leading, innovative hemodialysis concentrate manufacturer in the
healthcare industry, reported that in the first quarter 2000 it reduced its
loss by $120,000 compared to the first quarter of 1999. The Company reported
that their loss narrowed in the first quarter 2000 to $238,100, over the loss
in the first quarter 1999 of $358,100. The Company reported net sales of
$1,634,200, while its gross profit increased from $148,000 first quarter 1999
to $197,400 in first quarter 2000. The Company's loss per share improved by
$.02 to ($.05) per share compared to ($.07) per share in the first quarter of
1999.
The Company also experienced a substantial sales revenue increase in the first
quarter 2000 with its Dri-Sate Dry Acid Concentrate as volume more than tripled
from the year earlier period. The Company's liquid acid drum volume declined
due to the reduction of certain distributor business that did not meet the
Company's margin targets at the end of the first quarter of 1999. Excluding the
distributor volume reduction, the Company's liquid acid sales remained static
while its Dri-Sate Dry Acid Concentrate product line sales increased to over
40% of total acid concentrate sales.
Robert L. Chioini, Chairman, President and Chief Executive Officer, stated
"The Company's results were in line with our expectations following a
strong fourth quarter in 1999. Fourth quarter 1999 sales included increased
inventory stocking by some of our customers as a precautionary measure related
to potential Year 2000 supply chain disruptions, and as result we experienced a
lower rate of sales growth in the first quarter of 2000." Mr. Chioini
continued, "During the first quarter Rockwell secured supply commitments
from several customers which will enable the Company to increase its sales
revenue and to further penetrate the market."
Rockwell Medical Technologies, Inc., is a leader in manufacturing, marketing
and delivering high-quality dialysis solutions, powders and ancillary products
to hemodialysis providers. Hemodialysis is a process which duplicates kidney
function for patients whose kidneys have failed to function properly and suffer
from End Stage Renal Disease (ESRD). There are approximately 300,000 dialysis
patients in the United States and the incidence of ESRD has increased 6-8% on
average each year over the last decade. Rockwell offers Dri-Sate Dry Acid,
Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a wide
range of ancillary dialysis items. Rockwell's products are used to cleanse the
ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statement
For the quarters ended March 31, 2000 and March 31, 1999
(Thousands of dollars)
|
| |
Three months ended March 31, 2000 |
Three months ended March 31, 1999 |
| Sales |
$ 1,634.2 |
$ 1,584.2 |
| Cost of Sales |
1,436.8 |
1,436.2 |
| Gross Profit |
197.4 |
148.0 |
| Selling, General, Administrative |
448.4 |
530.9 |
| Operating Loss |
(251.0) |
(382.9) |
| Interest Income, net |
12.9 |
24.8 |
| Net Loss |
$ (238.1) |
$ (358.1) |
Avg shares outstanding |
4,854,397 |
4,830,450 |
| Basic and diluted loss per share |
$ (.05) |
$ (.07) |
(Return to Archive
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Thursday May 4, 2000
Rockwell Medical Technologies, Inc. Signs Preferred Supply Agreement
with Total Renal Care, Inc.
WIXOM, Mich. -- Rockwell Medical Technologies Inc. (Nasdaq:
RMTI), a leading, innovative hemodialysis concentrate manufacturer in the
healthcare industry, announced today that it has entered into a Preferred
Supplier Contract with Total Renal Care, Inc. which will cover Total Renal Care
dialysis clinics located in the Midwest and Northeast.
Total Renal Care Holdings, Inc., based in Torrance, California, is the nation's
second-largest provider of dialysis services for patients suffering from
chronic kidney failure. The Company owns and operates kidney dialysis centers
and home peritoneal dialysis programs domestically in 32 states, as well as
Washington, D.C. It also provides acute hemodialysis services to inpatients at
approximately 320 hospitals. As of March 31, 2000, Total Renal Care operated
484 outpatient dialysis facilities serving 40,000 patients, including 4,200
patients in 52 centers under management. Under the Agreement, Rockwell will
supply TRC dialysis facilities located in the Midwest and Northeast, which
consists of approximately 148 dialysis clinics. Rockwell has agreed to supply
these TRC facilities with the dialysate, which is used in the dialysis
treatments for patients suffering from chronic kidney failure. Rockwell
currently services approximately 29 TRC dialysis clinics.
Robert L. Chioini, Chairman, CEO and President of Rockwell Medical
Technologies, Inc., stated, "We are very pleased with this mutually
beneficial relationship with TRC. This commitment is a testament to our ability
to bring added value to the dialysis provider and it should allow us to
increase sales revenue, improve profit margins, and gain greater presence
through-out the entire market."
Rockwell Medical Technologies, Inc., is a leader in manufacturing, marketing
and delivering high-quality dialysis solutions, powders and ancillary products
to hemodialysis providers. Hemodialysis is a process which duplicates kidney
function for patients whose kidneys have failed to function properly and suffer
from End Stage Renal Disease (ESRD). There are approximately 300,000 dialysis
patients in the United States and the incidence of ESRD has increased 6-8% on
average each year over the last decade. Rockwell offers Dri-Sate Dry Acid,
Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a wide
range of ancillary dialysis items. Rockwell's products are used to cleanse the
ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
(Return to Archive
Index)
 |
Tuesday April 18, 2000
Rockwell Medical Technologies, Inc. Signs National Supply Agreement
with National Nephrology Associates, Inc.
> WIXOM, Mich. -- Rockwell Medical Technologies Inc.
(Nasdaq: RMTI), a leading, innovative hemodialysis concentrate manufacturer in
the healthcare industry, announced today that it has entered into a national
Supply Contract with National Nephrology Associates, Inc. (NNA).
NNA is a nephrology services company, which focuses on providing care to
patients with kidney disease, including patients suffering from chronic kidney
failure. NNA currently delivers dialysis and related healthcare services to
approximately 3500 dialysis patients through a nationwide renal care delivery
network comprised of approximately 63 dialysis clinics in 12 states. Currently,
Rockwell supplies 23 NNA dialysis clinics.
Rockwell will supply NNA dialysis clinics with dialysate and other ancillary
items, which are used in the dialysis treatments for patients suffering from
chronic kidney failure. NNA is expected to purchase, on a national level,
Rockwell's Dri-Sate Dry Acid Concentrate and Bicarbonate Powder as well as
other ancillary dialysis products for all of its dialysis facilities.
Robert L. Chioini, Chairman, CEO and President of Rockwell Medical
Technologies, Inc., stated, "This Supply Contract with NNA strengthens
Rockwell's strategy of capturing significant market share with expanding
dialysis providers who offer high-quality treatment for patients suffering from
chronic kidney failure. NNA's significant concentration of dialysis patients in
the southwest should allow us to quickly gain a strong presence there for our
new manufacturing plant in Texas."
Rockwell Medical Technologies, Inc., is a leader in manufacturing, marketing
and delivering high-quality dialysis solutions, powders and ancillary products
to hemodialysis providers. Hemodialysis is a process which duplicates kidney
function for patients whose kidneys have failed to function properly and suffer
from End Stage Renal Disease (ESRD). There are approximately 300,000 dialysis
patients in the United States and the incidence of ESRD has increased 6-8% on
average each year over the last decade. Rockwell offers Dri-Sate Dry Acid,
Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a wide
range of ancillary dialysis items. Rockwell's products are used to cleanse the
ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
(Return to Archive
Index)
 |
Tuesday March 28, 2000
Rockwell Medical Technologies, Inc. Announces
Manufacturing and Distribution Expansion in Texas
WIXOM, Mich. -- Rockwell Medical Technologies Inc. (Nasdaq:
RMTI), a leading, innovative hemodialysis concentrate manufacturer in the
healthcare industry, announced today that it has leased a second manufacturing
site, located in Texas. Rockwell already has a manufacturing site located in
Michigan.
The new manufacturing plant is located in Grapevine, TX, near Dallas, and is
approximately 51,000 square feet. It will have initial capacity to service
65,000 hemodialysis patients annually and it will produce Rockwell's Liquid
Acid Concentrate, Dri-Sate Dry Acid Concentrate, SteriLyte Liquid
Bicarbonate and Powder Bicarbonate. Rockwell will also distribute ancillary
dialysis products from the location. Rockwell expects to begin shipping product
during the third quarter of 2000.
Mr. Robert L. Chioini, Chairman, CEO and President of Rockwell, stated,
"This second manufacturing plant will give Rockwell a strong presence in
the Southwest. It will allow us to increase our sales revenue, improve our
profit margins and gain a greater presence in the dialysis provider market in
that region."
Rockwell Medical Technologies, Inc., is a leader in manufacturing, marketing
and delivering high-quality dialysis solutions, powders and ancillary products
to hemodialysis providers. Hemodialysis is a process which duplicates kidney
function for patients whose kidneys have failed to function properly and suffer
from End Stage Renal Disease (ESRD). There are approximately 300,000 dialysis
patients in the United States and the incidence of ESRD has increased 8% on
average each year over the last decade. Rockwell offers Dri-Sate Dry Acid,
Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a wide
range of ancillary dialysis items. Rockwell's products are used to cleanse the
ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
(Return to Archive
Index)
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Wednesday March 15, 2000
Rockwell Medical Technologies, Inc. Changes Board of
Directors
WIXOM, Mich. -- Rockwell Medical Technologies Inc. (Nasdaq:
RMTI), a leading, innovative hemodialysis concentrate manufacturer in the
healthcare industry, announced today that it has appointed two new independent
directors to its Board of Directors and that two previous members have resigned
from the Board of Directors of the Company.
Joining the Rockwell Board of Directors are Mr. Kenneth L. Holt and Mr. Ronald
D. Boyd. Mr. Holt and Mr. Boyd have combined business experience of over 33
years in the hemodialysis industry. Mr. Gary Lewis, the Board's former
Chairman, and Mr. Norman McKee have elected to resign from the Board in order
to pursue other business interests.
Mr. Robert L. Chioini, President & CEO, will assume the additional duties
of Chairman of the Board of Directors. Mr. Chioini stated, "We are
delighted to have two hemodialysis business professionals of the caliber of Mr.
Boyd and Mr. Holt join Rockwell's Board of Directors. We believe their industry
knowledge, experience and perspectives will add immediate and ongoing value to
the Company. We look forward to their contributions to our continued growth and
development."
Mr. Holt is a founder and Co-owner of Savannah Dialysis Specialists, LLC, a
disease management company specializing in the treatment of end-stage renal
disease, and has served as the Managing Partner since October of 1999. From
1996 to October 1999, Mr. Holt served as Vice President for Gambro Healthcare,
in its Carolinas Region, and held the same position at Vivra Renal Care, its
predecessor company which was acquired in 1997 by Gambro (Gambro is currently
the second largest integrated dialysis provider, manufacturer and distributor
of renal care products in the United States). From 1986 to 1996, Mr. Holt was
also the founder, Co-owner and Managing Partner in five dialysis clinics
servicing approximately 350 dialysis patients.
Mr. Boyd is a founder and Co-owner of Classic Medical, Inc., a dialysis and
medical products company, and has served as the Executive Vice President since
the Company's inception in November of 1993. From May 1993 to November 1993,
Mr. Boyd served as a consultant for Dial Medical of Florida, Inc., a
manufacturer and distributor of dialysis products. From 1990 to 1993, Mr. Boyd
served as a Regional Sales Manager for Future Tech, Inc., a dialysis products
distributor.
Rockwell Medical Technologies, Inc., is a leader in manufacturing, marketing
and delivering high-quality dialysis solutions, powders and ancillary products
to hemodialysis providers. Hemodialysis is a process which duplicates kidney
function for patients whose kidneys have failed to function properly and suffer
from End Stage Renal Disease (ESRD). There are approximately 300,000 dialysis
patients in the United States and the incidence of ESRD has increased 8% on
average each year over the last decade. Rockwell offers Dri-Sate Dry Acid,
Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a wide
range of ancillary dialysis items. Rockwell's products are used to cleanse the
ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
(Return to Archive
Index)
 |
Thursday March 9, 2000
Rockwell Medical Technologies Elects Not to Renew
Consulting Agreement with Wall Street Partners, Inc.
WIXOM, Mich. -- Rockwell Medical Technologies, Inc.
(Nasdaq:RMTI), a leading innovative dialysis concentrate manufacturer,
announced today that it has elected not to renew Wall Street Partners, Inc.'s
consulting agreement with the Company. Wall Street Partners, Inc. provided
financial and management services during a consulting agreement ending December
31, 1999. The Company paid Wall Street Partners, Inc. $ 240,000 under the
agreement during 1999. The agreement was not renewed effective January 1, 2000.
The Company previously reported that for the fourth quarter ended December 31,
1999, the Company incurred a net loss of $ 88,800 or $ (.02) per share which
represented a 75% decrease in its loss per share from the fourth quarter of
1998. Revenues for the fourth quarter of 1999 increased by 25% from the year
earlier quarter. Similarly, Rockwell's sales for 1999 were $ 6.7 million and
represented an increase of 27% over 1998. The Company reported a loss of $
1,071,000 in 1999. Earnings per share for the year ended December 31, 1999 were
$ .19 better than 1998 with an overall loss of $ (.22) per share in 1999
compared to a loss of $ (.41) per share in 1998.
Rockwell Medical Technologies, Inc., is a leader in manufacturing, marketing
and delivering high-quality dialysis solutions, powders and ancillary products
to hemodialysis providers. Hemodialysis is a process which duplicates kidney
function for patients whose kidneys have failed to function properly and suffer
from End Stage Renal Disease (ESRD). There are approximately 300,000 dialysis
patients in the United States and the incidence of ESRD has increased 6-8% on
average each year over the last decade. Rockwell offers Dri-Sate Dry Acid,
Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a wide
range of ancillary dialysis items. Rockwell's products are used to cleanse the
ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
(Return to Archive
Index)
 |
Tuesday February 15, 2000
Rockwell Medical Technologies Reports 25% Sales Increase
and 75% Earnings Improvement in Fourth Quarter 2000
WIXOM, Mich. -- Rockwell Medical Technologies, Inc.
(Nasdaq: RMTI) announced today that its fourth quarter 1999 loss per share
decreased by 75% to a loss of $.02 per share from a loss of $ .08 per share in
the fourth quarter of 1998. Revenues increased by 25 % in the fourth quarter of
1999 over the fourth quarter of 1998. Sales increased by $.4 million to $ 1.96
million compared to the fourth quarter of 1998. The Company reported a loss of
$ 88,800 for the fourth quarter compared to $ 371,500 in the fourth quarter of
1998.
Rockwell's fourth quarter earnings improvement was the result of increased
sales volume coupled with higher gross profit margins. Gross profit margins
increased to 21% from 5.4% in the fourth quarter of 1998 with gross profit up $
328,900.
Rockwell's results for the year ended December 31, 1999 included a 27 % sales
increase with 1999 sales of $ 6.7 million compared to $ 5.3 million in 1998.
Gross profit increased by $ 1.1 million to $ .9 million from a deficit of $.2
million with overall gross profit margins of 13.6 % compared with a gross
margin deficit of (3.2%) in 1998. The Company's l999 loss was $ 1,071,300
compared with a loss of $ 1,928,600 in 1998. Loss per share improved by $.19 to
($.22) in 1999 compared to ($.41) in 1998.
Vice President and Chief Financial Officer, Thomas E. Klema stated "Our
fourth quarter results represented the best quarter in the Company's history
with continuing improvement in sales and gross profit margins. Over the last
six months, the Company has been cash flow neutral due to improving results and
good working capital management efforts. The Company finished the year with $
1.1 million dollars in cash and has no long term debt or bank loans."
Robert L. Chioini, President and Chief Executive Officer, stated "Rockwell
experienced an outstanding fourth quarter with significant sales growth,
substantial margin improvement and increased market penetration of the
Company's products. We have now had eight quarters of positive sales and
earnings improvement since going public in early 1998. We are pleased with our
overall performance in 1999 including the successful introduction of our dry
acid concentrate line which has served to reduce our customers costs, improve
our operating efficiency and resulted in substantial sales growth for the
Company."
Rockwell Medical Technologies, Inc., is a leader in manufacturing, marketing
and delivering high-quality dialysis solutions, powders and ancillary products
to hemodialysis providers. Hemodialysis is a process which duplicates kidney
function for patients whose kidneys have failed to function properly and suffer
from End Stage Renal Disease (ESRD). There are approximately 300,000 dialysis
patients in the United States and the incidence of ESRD has increased 6-8% on
average each year over the last decade. Rockwell offers Dri-Sate Dry Acid,
Liquid Acid, SteriLyte Liquid Bicarbonate, Powder Bicarbonate and a wide
range of ancillary dialysis items. Rockwell's products are used to cleanse the
ESRD patient's blood and replace nutrients in the bloodstream.
This press release contains forward-looking statements with respect to
Rockwell's business and operations. Management of Rockwell believes the
expectations reflected in the forward-looking statements made in this press
release are based on reasonable assumptions. Certain factors could occur that
might cause actual results to vary. These include, but are not limited to,
general economic conditions, economic conditions in the hemodialysis industry,
competitive factors and other factors discussed in Rockwell's reports filed
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statement
For the quarter and year ended December 31, 1999 and December 31, 1998
(Thousands of dollars)
|
| |
Three months ended Dec 31, 1999 |
Three months ended Dec 31, 1998 |
Year
ended Dec 31, 1999 |
Year
ended Dec 31, 1998 |
| Sales |
$ 1,963.2 |
$ 1,572.1 |
$ 6,688.9 |
$ 5,272.7 |
| Cost of Sales |
1,550.1 |
1,487.7 |
5,778.1 |
5,443.8 |
| Gross Margin (Deficit) |
413.1 |
84.4 |
910.8 |
(171.1) |
| Selling, General, Admin |
514.2 |
494.5 |
2,043.1 |
1,871.1 |
| Operating Loss |
(101.1) |
(410.1) |
(1,132.3) |
(2,042.2) |
| Interest Income, net |
12.3 |
38.6 |
61.0 |
113.6 |
| Net Loss |
$ (88.8) |
$ (371.5) |
$ (1,071.3) |
$ (1,928.6) |
Avg shares outstanding |
4,854,397 |
4,830,450 |
4,844,149 |
4,734,312 |
| Basic and diluted loss per share |
$ (.02) |
$ (.08) |
$ (.22) |
$ (.41) |
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